Olympus Office Raided by Japanese Authorities

By Gary Cutlack on at

Believe it or not, things are still capable of getting worse for Olympus. The crisis-struck camera company's latest shame comes via Japanese police and investigators, who have raided the firm's head office.

The coordinated raid involved the police, prosecutors and financial investigators, who all piled in in the hope of getting to the bottom of the company's rather odd accounting methods that have caused boardroom chaos and a huge slump in its value.

Olympus said: "The Company takes the commencement of criminal investigation by the Tokyo District Public Prosecutors Office, Tokyo Metropolitan Police Department and the Securities Exchange Surveillance Commission with utmost seriousness and will continue to cooperate with these authorities for the purposes of revealing the related facts." [Olympus [PDF] via WSJ]